Agriculture News
USDA’s Cold Storage Report showed a smaller-than-normal build in frozen pork stocks during January, while beef stocks rose versus a normal small decline during the month.
Buyer interest built throughout the overnight session in the soybean and soymeal markets and futures are trading near session highs this morning.
Soybean basis slipped a little over the past week, as farmer selling likely picked up, but remains stronger than average.
Soybeans regained most of Tuesday’s losses overnight, while corn and wheat recouped only a fraction of their declines.
Conditions in southern Brazil are worse than expected and there may be additional yield losses due to drought.
Soybeans extended Monday’s declines overnight, while the winter wheat markets were pressured by an apparent easing of tensions between Russia and Ukraine. Corn followed the other two markets lower.
Soybean inspections drop, but within expectations
No changes to short-term trends for ag markets this week.
Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.
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